This is pretty much the last thing Wall Street's nightmare stock needed

The stock is fell as much as 14% on Thursday on the news that the
company is being sued by Latin America Power Holding
B.V. for not completing a $733 million buyout,
according to The Wall Street Journal.

LAPH shareholders want a New York judge to freeze $150
million of the company's assets.

From The Journal:

In court papers filed in New York Supreme Court Wednesday, the
Latin America Power investors say SunEdison, which has suffered a
“stunning financial collapse” in its stock price, is “teetering
on the edge of bankruptcy,” and has allegedly said it would
transfer assets away.

This is the last thing SunEdison needs. The stock started
falling in July, when its attempt to acquire solar firm Vivint
revealed to investors that the company may not have as much cash
as they thought. The stock has fallen 90% since then.

Before that, though, SunEdison was a Wall Street darling.
Greenlight Capital's David Einhorn, who now has a seat on the
company's board, presented the stock as long idea at the Robin
Hood Investors Conference
back in the fall of 2014. Hedge funds starting piling
into the stock.

Eventually, though, they all got burned.

SunEdison is also dealing with legal action brought by
billionaire investor David Tepper, of Appaloosa Management. He
has a stake in TerraForm Power, one of two of SunEdison's sister
companies, called yieldcos. Yieldcos act as utilities that manage
and collect fees from the projects SunEdison builds.

According to Tepper, the Vivint deal would force TerraForm
Power to purchase low-grade assets. Even worse, to a lot of
investors on Wall Street, the complicated yieldco structure has
come to represent
corporate financial engineering at its worst.